Since the end of January this pair has sold off aggressively. Short term we are seeing an increased activity by the bulls but as long as the 1.35000 handle has not been taken out I'm in favor of the bears. We are closing in on the resistance area between 1.33900 -1.35000 which should provide us with a good area to take a short position in order to join the long term bearish trend with a 3R potential if price makes it all the way down to 1.30000 again.
